Contineum Therapeutics (NASDAQ:CTNM) Raised to “Hold” at Wall Street Zen

Contineum Therapeutics (NASDAQ:CTNM) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Saturday.

A number of other research analysts also recently issued reports on CTNM. Robert W. Baird cut their target price on shares of Contineum Therapeutics from $16.00 to $14.00 and set an “outperform” rating on the stock in a research report on Monday, November 24th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Contineum Therapeutics in a research note on Wednesday, January 21st. Royal Bank Of Canada lowered their target price on shares of Contineum Therapeutics from $25.00 to $22.00 and set an “outperform” rating for the company in a report on Friday, November 21st. Leerink Partners began coverage on Contineum Therapeutics in a research note on Thursday, November 13th. They issued an “outperform” rating and a $22.00 price target on the stock. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $14.00 price objective (down from $23.00) on shares of Contineum Therapeutics in a research note on Thursday, January 8th. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $19.00.

Contineum Therapeutics Stock Down 3.0%

Shares of CTNM opened at $14.44 on Friday. The stock’s fifty day simple moving average is $12.48 and its 200-day simple moving average is $11.21. The firm has a market capitalization of $421.36 million, a PE ratio of -6.42 and a beta of 1.17. Contineum Therapeutics has a 12-month low of $3.35 and a 12-month high of $16.01.

Institutional Trading of Contineum Therapeutics

A number of large investors have recently made changes to their positions in CTNM. RA Capital Management L.P. acquired a new stake in Contineum Therapeutics during the 3rd quarter worth $24,934,000. Franklin Resources Inc. increased its holdings in shares of Contineum Therapeutics by 13.5% in the fourth quarter. Franklin Resources Inc. now owns 1,879,367 shares of the company’s stock worth $21,481,000 after acquiring an additional 223,819 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Contineum Therapeutics by 29.6% during the third quarter. Vanguard Group Inc. now owns 964,232 shares of the company’s stock worth $11,330,000 after purchasing an additional 220,231 shares during the period. Balyasny Asset Management L.P. bought a new position in shares of Contineum Therapeutics during the 3rd quarter valued at about $11,178,000. Finally, Geode Capital Management LLC lifted its holdings in shares of Contineum Therapeutics by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 213,869 shares of the company’s stock valued at $2,446,000 after purchasing an additional 2,819 shares in the last quarter.

About Contineum Therapeutics

Contineum Therapeutics, Inc, a clinical stage biopharmaceutical company, focuses on discovering and developing novel oral small molecule therapies for neuroscience, inflammation, and immunology indications with high unmet need. Its lead asset is PIPE-791, a novel, brain penetrant, small molecule inhibitor of the lysophosphatidic acid 1 receptor (LPA1R) for the treatment of idiopathic pulmonary fibrosis and progressive multiple sclerosis (MS). The company also develops PIPE-307, a novel, small molecule selective inhibitor of the muscarinic type 1 M1 receptor to treat depression and relapse remitting MS; and CTX-343, a peripherally-restricted LPA1R antagonist.